'Chai Shop' In Bengaluru Is Accepting Payment In Crypto

A tea business in Bengaluru, the startup center of India, caught everyone's attention when it announced that it would take Bitcoin as a form of payment. Shubham Saini, who established this business after quitting his BCA course, is the owner of the store with the moniker "Frustrated Dropout." An image sent on Twitter shows a man brewing tea next to spaghetti and Maggi packages on a table. "Chal Chai Peete Hai" is written on a banner in the background. The payment information, the phrase "Cryptocurrency accepted here," and a Bitcoin symbol stand out which is making it different from others and is the center of attraction.

This shop charges 20 for a cup of tea. Customers may also use UPI to pay. Mr. Saini claimed that after investing 1.5 lakh [in the bitcoin market], he witnessed a 1,000% increase in my portfolio within a short period of time. His cryptocurrency wallet soon reached the $30 lakh mark, which was significant for a student like him.

When the cryptocurrency market crashed in 2019, just as Mr. Saini was beginning to believe that he was the "next Rakesh Jhunjhunwala of the crypto world," things got worse. He had gone from Rs. 30 lakh to Rs. 1 lakh and was back where he had started. He continued by saying he couldn't believe how dramatically his life might alter in an one evening. The person who "runs on chai, sarcasm, and phone" is Mr. Saini, who has gained popularity on social media.

Meanwhile, it's not the first time a tea vendor has generated excitement online. The tale of an Economics graduate who opened a tea store next to a women's college in Patna, the capital of Bihar, earlier this year was widely circulated. Priyanka Gupta, a 2019 graduate, claimed that Prafull Billore's narrative, better known as "MBA Chaiwala," gave her the idea to start the tea shop.